Listing on the BdL market will in most cases require submission of a base prospectus to the CSSF. Once your base prospectus has been reviewed and approved, tranches will be listed and admitted to trading.
It is not mandatory to appoint a listing agent to list at LuxSE; you can submit applications directly with us. However, you may choose to appoint a listing agent to submit requests on your behalf.
Our listing members can act as a listing agent for you.
To list under a programme on the BdL market, an issuer must first file a base prospectus with the CSSF. Send your base prospectus to prospectus.approval@cssf.lu or visit the CSSF’s website for more information.
Note that some issuers, such as supranationals, should instead send their base prospectus directly to LuxSE for approval, in accordance with Part 3, Chapter 2 of the Prospectus Law.
In order to admit securities to trading under the programme, the following should be filed with LuxSE.
A copy of the Final Terms (pricing supplement)
Information about the legal entity assuming the payment of the listing and maintenance fee
First listing price (current market price)
Closing confirmation
Split of RegS - Rule 144A Notes (if applicable)
There is no need to complete a new application form to list tranches under a programme. A request for admission should be filed no later than noon on the day prior to scheduled listing.
(2) Applicable only if the supplement includes an increase in the nominal amount
(3) Range applicable is based on the total number of new tranches (including fungibles) listed during the calendar year
For more details about fees, see our listing fees booklet:
After listing and admission to trading, issuers are required to fulfil specific reporting obligations. Issuers must file documents containing regulated information with the CSSF, as outlined under the Law of January 2008 (as amended), which implements the requirements of the EU Transparency Directive.
Issuers must also file information and scheduled corporate events with LuxSE (Part 1, Chapter 9 of the Rules & Regulations).
Issuers on the BdL market can take advantage of LuxSE’s FIRST, a dedicated service where issuers can simultaneously distribute publications to the market, the Officially Appointed Mechanism (OAM) and the CSSF.
In the context of MiFID II / MiFIR and MAR, the LuxSE is obliged to collect a ‘Legal Entity Identifier’ or ‘LEI’ code from any issuer operating on its regulated market (Bourse de Luxembourg) and on its Multilateral Trading Facility (Euro MTF) and communicate it to the relevant supervisory authorities.
You can apply for and renew an LEI code directly via LuxSE.